Unidentified Company Representative: Thank you, Horace. We have another few questions coming from online. I’m combining them all together because it’s similar. They want to know the current status or policies in India on EV battery swapping or charging.
Horace Luke: Okay, I can take that. Battery swapping, as I said earlier in the answered Q&A, battery swapping is still very new to the entire industry. While everybody recognizes and understands the electric vehicle as a plug-in charging, there’s still a lot of work needs to be done to educate everybody on what battery swapping is and what battery swapping, how it’s different than battery charging. So we’re making inroads. We’re meeting lots of politicians, a lot of policymakers, educating them. And we have formed, along with other partners, a association called the India Battery Swapping Association, and the association has partners like Hero, like Sun Mobility, like actually other partners like Honda and others that have actually joined the, what we call, IBSA which is India Battery Swapping Association.
And with this association, a lot of seminars and a lot of meetings are happening as we speak to educate about battery swapping and how policies need to be adjusted to serve battery swapping. So we look forward to a country that can be electrified through battery swapping because that’s the only way we can set — zero downtime is the only way we can actually see electric being adopted. In markets where very soon ICE vehicle for logistics will be banned. Cities like Delhi will be banning ICE vehicle from doing logistics. Doesn’t matter if that logistic is carrying goods, your lunch, or people. And so that’s a great opportunity for us, and battery swapping is the only solution to serve that B2B market.
Unidentified Company Representative: Thank you, Horace. We have another question from online. Can we get an update on Gogoro’s solid-state battery?
Horace Luke: Sure. We continue to work with our partner on developing the battery solution. Gogoro’s key differentiating factor is the technology behind managing the battery swapping network. Today, on the network, there are multiple generations of technology with different chemistries that are in the battery today, serving from 1.3 kilowatt hour to approximately 1.7 kilowatt hour. And those variety of batteries can be put into the network to serve our customers in time. One of the value proposition that we give to our customer that people see as a great part of not buying a battery but swapping a battery is that they don’t have to worry about the upgrade of technology, and that when a new technology is rolled out, they simply can subscribe and actually get access to it.
And with the solid-state battery, as we’ve stated earlier with the announcement, it is years away still. And we’re working diligently to make sure that we’re one of the first people to be able to roll that out to our customer. But it will take time. Solid-state battery is still in its early phase, but it offers a lot of benefits such as safety, durability, long range, and capacity. All those things are things that we can actually use to benefit our customer. But in the meantime, our network is ready to plug in any other technology that needs to be plugged in. And we’re very flexible about that and serving our customer with different technologies.
Unidentified Company Representative: Thank you, Horace. Operator, can you check again online whether we have anything from the audio?
Operator: There are no further questions from the audio at this time.
Horace Luke: Great. Thank you, everyone, for joining our call today. 2023 was a challenging year for the overall market standpoint, we focus on delivering solid financial result regardless. In 2024, we’re committed to continue development and deployment of the best technology, best vehicle, best battery swapping platform and ecosystem to ongoing innovation and performance leadership in electric two-wheeler industry. We aim to deliver exceptional performance, efficiency, and reliability, both in Taiwan and the international markets that we’re going into. We’re still in the early stage of electrification overall. Our goal remains to continue to support the inevitable transition from ICE-powered two wheelers to electric two wheelers.
As always, we appreciate everyone’s support as a community. Doesn’t matter if it’s our employees, our suppliers, and most important of all our investors on this journey. Thanks for calling in today’s webcast and talk to you guys real soon. Thank you.
Operator: The conference has now concluded. Thank you for attending today’s call. You may now disconnect.
